Ganzhou Tungsten Association (GTA) and some major tungsten companies in China have not offered forecast prices for tungsten concentrates and ammonium paratungstate (APT) for April due to a lack of liquidity in the market, participants told Fastmarkets.

At the same time, several APT refineries in the country are said to be considering suspending their operations from mid-April owing to the weak market conditions.
Market sources told Fastmarkets that the tungsten industry is experiencing an unprecedented downturn. Previously when prices for tungsten concentrates and APT fell, the market still saw a healthy number of trades concluded. This year, however, the tungsten market seems to be pressing the pause button due to weak demand and production disruptions downstream because of the Covid-19 pandemic.